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There will shortly be a new way to gamble on the record behind bitcoin


Nasdaq
Facebook’s
share prices are seen inside the NASDAQ Marketsite in New
York.

Reuters/Shannon
Stapleton


  • Investors will shortly have a new way to gamble on the
    record behind bitcoin. 
  • A new exchange-traded fund tracking blockchain
    companies by RealityShares is set to start trade on Nasdaq on
    Wednesday Jan 17, a person informed with the matter told
    Business Insider. 

An exchange-traded fund that bets on companies with blockchain
record is set to start trade on the Nasdaq Stock Market on
Wednesday Jan 17, according to a person informed with the
matter.

Exchange user Nasdaq and
Reality Shares, an ETF issuer and index provider, denounced an
index in Nov designed to capture the expansion of blockchain
technology. The Reality Shares Nasdaq Blockchain
Economy ETF
by Reality Shares will be formed on that index
and is expected to start trade Wednesday, a source told
Business Insider.

“The Index is designed to measure
the earnings of companies that are committing element resources
to developing, researching, supporting, innovating or utilizing
blockchain record for their exclusive use or for use by
others,” a rough filing with the Securities and Exchange
Commission said.

It appears the fund will be the
first of its kind to trade on a US exchange. VanEck’s
Semiconductor ETF gives bearing to the blockchain ecosystem via
semiconductor companies which make chips compulsory for bitcoin
mining. 

Blockchain is best famous for being
the record underlying cryptocurrencies like bitcoin, but it
also has mixed applications outward of
cryptocurrencies.

As a decentralized ledger,
blockchain can promote exchanges of resources but the need of
a middle-man. As such, it has gripped the courtesy of Wall
Street with companies such as Goldman Sachs, JPMorgan, and Morgan
Stanley all participating in at slightest one blockchain
consortium.

The ETF, however, will track
companies in a series of additional industries including retail
and tech, according to the index website. 

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